What type of organization provides insurance against losses in exchange for a premium?

The term “carrier” refers to an organization, typically an insurance company, that underwrites insurance policies and assumes the risk of financial loss in exchange for premiums paid by policyholders. Carriers are responsible for evaluating the risks associated with insuring clients, determining the appropriate premiums, and processing claims when policyholders experience covered losses. In that capacity, they play a crucial role in the insurance industry by providing financial protection and managing the risks that come with various insured events.

In contrast, a provider generally refers to healthcare providers that deliver medical services, a beneficiary is the individual designated to receive benefits from an insurance policy, and a broker acts as an intermediary between clients and insurance carriers, helping clients find and purchase appropriate insurance coverage. While all these roles are important in the realm of insurance and healthcare, the term that accurately describes the organization offering insurance coverage against losses is "carrier."